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REMAX National Housing Report - May 2025

The latest REMAX National Housing Report for May 2025 showcases a noteworthy trend in the housing market, marking the fourth consecutive month of rising home sales, up by 8.6% from April. However, it’s important to note that these sales figures have not yet reached the levels seen in 2024, with May’s total falling 3.5% short compared to the same month the previous year.

Across 52 metropolitan areas surveyed, the availability of homes for sale also saw a significant uptick, increasing by 8.3% month over month and an impressive 34.8% compared to May 2024. This conjunction of rising sales and inventory is marking the 17th straight month of year-over-year inventory growth. The median sales price rose nominally for the 23rd consecutive month, reaching $442,000, which reflects a small increase of $2,500 or 0.6% from May 2024.

New listings also demonstrated positive momentum, with a 4.4% increase from April and a 7.9% boost compared to May 2024, representing the 15th consecutive month of year-over-year new listing gains. Erik Carlson, CEO of RE/MAX Holdings, Inc., expressed optimism about the state of the housing market, stating, "Rising sales, growing inventory, declines in days on market, and steady prices are all encouraging signs for the housing industry."

Regional Highlights: Atlanta Market

In particular, the Atlanta housing market is showing renewed energy. Kristen Jones, Broker/Owner of RE/MAX Around Atlanta, stated, "The Atlanta housing market saw more homes coming to market and a noticeable uptick in sales compared to April. Inventory is increasing, which is beneficial for buyers looking for more options and better negotiation power."

Key Metrics: Snapshot of May’s Performance

• - Average Sale Price: In May, buyers paid an average of 99% of the asking price, consistent with April’s figures but slightly down from 100% recorded in May 2024.
• - Days on Market: The average days on market decreased to 39 days, which is two days shorter than in April but longer than the average of 34 days in May 2024.
• - Months' Supply of Inventory: The months' supply of inventory was calculated at 2.5 months, up from 2.4 in April and significantly higher than 1.9 from May of last year.

New Listings Trends

Analyzing the data further, the number of newly listed homes across the surveyed areas in May 2025 was up by 7.9% from the previous year. Notable urban markets such as Washington, D.C., Fayetteville, AR, and Wichita, KS led with substantial year-over-year increases of 25.4%, 25.1%, and 23.7% respectively. Conversely, Minneapolis, New Orleans, and Miami saw declines in this metric.

Closed Transactions Insights

However, despite growth in new listings, overall closed transactions reflected a downturn compared to last year, with a 3.5% decrease in sales year-over-year, juxtaposed with an 8.6% increase from April. Miami was notably the worst-hit market, experiencing a drop of 16.5% year-over-year.

Price Trends and Sales Dynamics

The median sales price across the surveyed metro areas maintained an upward trajectory. The most significant gains were observed in markets like Trenton, NJ, and Hartford, CT, showing increases of 9.9% and 8.5% respectively, while some areas such as Bozeman, MT and Tampa, FL experienced declines.

In May 2025, the average close-to-list price ratio was at 99%, reflecting a slight drop from previous years, indicating that homes are continuing to sell for less than their listed prices in an increasingly competitive market.

Conclusion

The REMAX National Housing Report for May 2025 paints a complex picture of the real estate landscape, highlighting gains in home sales and inventory alongside uneven price trends and sales dynamics. The encouraging growth signals for the housing industry hint at potential for continued activity in the summer months, making it an exciting time for buyers and sellers alike.

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